Takeover Bid

April 19, 1986

MONTREAL — Imasco Ltd. says that it has enough shares to take over Genstar Corp, based in Vancouver. The tobacco conglomerate laid out at least $2.5 billion. It offered $58 a share, and the offer stands until April 25. Genstar has 37 million shares outstanding. The takeover bid has caused considerable controversy, but Barbara McDougall, the junior finance minister, told Parliament that the government will not interfere. Imasco wants Genstar for its subsidiary, Canada Trust, the largest trust company in the country.